Barclays Increases Trane Technologies (NYSE:TT) Price Target to $500.00

Trane Technologies (NYSE:TT) had its target price raised by Barclays from $440.00 to $500.00 in a research report sent to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. Robert W. Baird cut their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $401.93.

Trane Technologies Trading Down 0.5 %

Shares of Trane Technologies stock opened at $412.18 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a fifty day moving average price of $400.85 and a 200 day moving average price of $362.24. Trane Technologies has a 1 year low of $229.07 and a 1 year high of $422.00. The stock has a market cap of $92.75 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company posted $2.79 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Trane Technologies will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s payout ratio is presently 31.17%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TT. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at about $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the 3rd quarter valued at about $36,000. Triad Wealth Partners LLC acquired a new position in Trane Technologies in the 2nd quarter valued at about $39,000. Quarry LP acquired a new position in Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.